Posted on 07/28/2011 7:50:18 PM PDT by Qbert
[Snip]
The smart money in Washington continues to be on some hybrid of the Boehner/Reid/McConnell plans. If I had to place a bet now, Id say the final deal looks something like this:
Cuts: $1.2 trillion in discretionary spending cuts, with somewhat more of the total falling on defense spending than in Boehners bill and somewhat less of the total falling on defense spending than in Reids bill.
Committee: The bipartisan Supercommittee will be formed and charged with developing a plan that cuts the deficit by $1.8 trillion or more. Unlike in Boehners plan, future debt-ceiling increases will not require passage of the committees plan. But unlike in Reids plan, there will be a trigger mechanism that begins making automatic, across-the-board cuts if their plan or some variant isnt adopted.
Debt ceiling: The debt ceiling will be raised by $1 trillion upon passage of the plan. Further increases will be done through the McConnell mechanism: The president will essentially be able to raise the debt ceiling on his own, but Congress will be able to issue resolutions of disapproval if and when he does so.
Wild cards: Boehners plan requires a future vote on a balanced budget amendment. Id expect that will be part of the final deal.
(Excerpt) Read more at washingtonpost.com ...
My God, what a disasterous mess. They’re just trying to delay the collapse. IMO
Sounds like a safe bet. People who expect otherwise seem to not register that the dems control the senate and the presidency.
It will be more of the same old crap: Higher spending authority now...reductions in spending in 10 years! I say NO!
That plan would be the final nail in the traitor’s takeover as dictator. Congress will be able to issue a “resolution”? That would not stop anything. I don’t like the sound of that plan. I say let the default happen.
Well, gee... that should solve all our problems.
They have no grip on reality.
I take no pleasure in being correct, if it turns out I am.
Doesnt matter what Boehner says or does on TV or the House floor. Re-read your own second paragraph. Nothing is going to go through without clearing the Senate. The previous Congress didnt pass a budget so they wouldnt hand over a campaign issue. The WH and current group of Leftist remnants in Congress wants the market volatility to blame the right, then use it as their own issue in 2012. If a deal is made, were going to end up with something everyone hates....as usual.
http://www.freerepublic.com/focus/f-news/2753452/posts
As if that makes a difference. The debt limit went nowhere but UP when the GOP controlled the whole store.
Look at the lower right.
Source: Tom Weller's Hugo Award winning Science Made Stupid.
A committee to decide future cuts? ha ha ha ha ha
We’ll get a raised debt limit, serious defense cuts, increased taxes, and more social spending*, theft, and graft.
*More people on welfare, WIC, Food Stamps, SS, SSI....
Horse hockey!! Do not pass any of this garbage!! Do not cede power to Obama and the democrats!!
The Republican House controls the purse strings!!
When the time comes, the congress should dole out just enough to avoid default, but otherwise HOLD THE LINE!!
“Horse hockey!! Do not pass any of this garbage!! Do not cede power to Obama and the democrats!!”
Dittos.
This is just fantastic, a SUPERcommittee and the power to issue strongly worded memos when the president spends ten trillion instead of one.
My broker, on his last day, suggested that I invest in storable food, antibiotics, and ammo. I’ll add sandbags to that list.
The only benefit to the taxpayer that could come of this, would be a balanced budget amendment. It would have the bi-partisan support necessary to achieve 2/3rds majorities in both the House and the Senate. Once ratified, conservatives and liberals would wrestle over whether to cut expenses or raise taxes. With the right leadership, conservatives would win that battle.
The deal would be giving Obama the cash needed until next November, conditional on a BBA passing both Houses.
“My God, what a disasterous mess.”
It’s a Frankenstein bill.
The BBA inclusion would just be window dressing here to try to make it look appealing to Conservatives.
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